Sawaco borrows $160m for project

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Vietcombank and the HCM City Finance and Investment Company have agreed to lend VND3.65 trillion (US$160.36 million) to the Saigon Water Corporation (Sawaco) to finance a major water supply system.

Vietcombank and the HCM City Finance and Investment Company have agreed to lend VND3.65 trillion (US$160.36 million) to the Saigon Water Corporation (Sawaco) to finance a major water supply system.— VNS Photo

Vietcombank and the HCM City Finance and Investment Company have agreed to lend VND3.65 trillion (US$160.36 million) to the Saigon Water Corporation (Sawaco) to finance a major water supply system.

Sawaco will use the loan, which carries an interest rate at 8.5 per cent, for 11 different projects to ensure everyone in the city has access to clean water.

Tran Van Khuyen, chairman of Sawaco, said a lot of funding is required to improve the city’ water supply.

At the signing ceremony on Wednesday, Tran Vinh Tuyen, deputy chairman of the city People’s Committee, said the loan would help improve water supply.

He called on Sawaco to use technology to improve quality control, reduce water loss and make tap water safe to drink. — VNS

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